MRPL acquires 100% stake in ONGC Mangalore
May 20, 2021
Acquires remaining 0.00027776% share in OMPL from ONGC
ONGC Mangalore Petrochemicals Ltd (OMPL), a subsidiary of Mangalore Refinery and Petrochemicals Ltd (MRPL), has now become a wholly owned subsidiary of MRPL.
This follows the acquisition of the remaining 0.00027776 per cent share in OMPL by MRPL from ONGC.
MRPL informed the stock exchanges on Thursday that the board meeting of MRPL, on October 19, had approved the acquisition of 124,66,53,746 equity shares of ₹10 each of OMPL from ONGC.
Accordingly, a share purchase agreement (SPA) was executed with ONGC for the acquisition. An amount of ₹1216,73,40,561 was paid towards consideration for acquisition of 124,66,53,746 equity shares at a price of ₹9.76 per share.